NABKISAN WASH Social Bond: India’s first, ₹180 crore listed on NSE
Why in the news
On 1 October 2026, NABKISAN Finance Limited, a subsidiary of NABARD, listed India’s first social bond devoted solely to Water, Sanitation and Hygiene (WASH) on the National Stock Exchange. The Ministry of Finance shared the details on 3 October 2026.
Key facts
- Issuer: NABKISAN Finance Limited, a NABARD subsidiary.
- First of its kind: India’s first social bond focused exclusively on the WASH sector.
- Exchange: National Stock Exchange (NSE), Mumbai.
- Use of funds: widening access to safe water, sanitation and hygiene for rural and underserved communities to improve health and quality of life.
- Partner: Water.org served as technical advisor and knowledge partner.
| Feature | Detail |
|---|---|
| Amount raised | ₹180 crore |
| Coupon | 8.10% |
| Tenure | 5 years (matures September 2031) |
| Subscription | 1.8 times |
| Ratings | CRISIL AAA (Stable), CARE AAA (Stable) |
| Listing date | 1 October 2026 |
About NABKISAN and NABARD
NABKISAN Finance Limited is a NABARD subsidiary; its MD and CEO is Immanuvel Ganesan. NABARD is chaired by Dr. Shaji Krishnan V, who said the issue shows how innovative financing can serve development priorities.
Exam angle
- A social bond raises money for projects with measurable social outcomes, here WASH.
- Remember the numbers: ₹180 crore, 8.10% coupon, 5 years, 1.8 times subscribed.
- AAA is the highest credit rating grade used by CRISIL and CARE.